Bangkok: Gold prices plummeted in buying and selling after dropping 1,550 baht at the opening of the market this morning. People flocked to buy and sell gold at gold shops in Yaowarat after the market opened with a sharp drop of 1,550 baht. Queues were long since morning. According to Thai News Agency, the gold trading atmosphere in Yaowarat this morning was bustling after the domestic gold price opened with a sharp drop of 1,550 baht. Buying price was 77,500 baht per baht, and selling price was 77,700 baht per baht, a decrease of 1,550 baht. Ornamental gold was being bought at 75,951.60 baht per baht and sold at 78,500 baht per baht. The significant drop in gold prices compared to yesterday has resulted in gold shops along Yaowarat Road being crowded with people continuously arriving to buy and sell gold. Some shops had customers even before opening hours. Gold shop owners said that as soon as the opening price dropped sharply, there was a surge of buying (buy on dip) from many retail investors, especiall y those waiting for an opportunity to buy during the price correction. At the same time, some people sold their gold to lock in profits or for investment purposes, believing there was a chance the price would rise further. They warned investors to carefully consider the risks before deciding to buy or sell during periods of high price volatility.
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